Bitcoin Cash (BCH) Trades In Range After The Bulls Return

The Bitcoin Cash to USD pair is trading in range short-term with demand zones at $100, $200, and $300 and supply zones at $1000, $900 and $800. On the medium-term price chart, Bitcoin Cash is trading in range. The bulls dominated the market this morning driving the price of Bitcoin Cash above $451.30 which happens to be in the supply area. There was a railroad formation signaling that the bearish reversal had little effect on the price of Bitcoin Cash this morning. The price only went to $426.00 in the demand area before the bulls came to the rescue. There was a 4-hour candle which was at $432.66. This bullish candle was what sustained the upward momentum and the price went as high as $440.00.

The price of Bitcoin Cash (BCH) went above the 10-EMA while the stochastic oscillator was pointing up at 45%. This shows that the bulls may continue to dominate the range for the rest of the week. Just like yesterday, the price is ranging between $415.00 in the demand area and $500.00 in the supply area. If you want to trade, don’t make any move until there is a breakout or breakdown.

Bitcoin Cash (BCH) Is Bullish Short-term

Short-term, the price of Bitcoin Cash is bullish against the USD and against Bitcoin. The bears attempted a minor pullback but the bulls were able to correct the price from $412.10 in the demand area to $451.30 in the supply area. There was bearish exhaustion and the formation of a bearish spinning top indicating a price reversal. The bears pushed the price of Bitcoin Cash all the way to $426.00 before the end of yesterday’s trading session. This is according to the price analysis of Azeer M on Bitcoin Exchange Guide.

At the time of writing, Bitcoin Cash was trading at $434.38. This indicates a 3.68% rise against the USD and a 2.67% rise against Bitcoin. The trading volume over a 24 hour period is $327,770,716 while the total market capitalization is $7,539,308,063.